The people of the United States are richer than most people in the world today, which even includes the poorest Americans. Studies have found that the most impoverished today have cars, air conditioning, cable television, video game consoles and other household conveniences. Essentially, the poorest people today lead a higher standard of living than the highest income earners 100 years ago.
For some reason or another, we take neglect of the fact that capitalism and free markets have given poor people the luxuries of life, such as smartphones, tablets and air conditioners. However, politicians and government officials continue to promote programs that supposedly aid the poor, which mostly do the exact opposite.
A new infographic was released by Online Accounting Schools titled “The United States of Poverty and Prosperity.” It listed an array of data, including 15 percent of Americans are living in poverty, one in six Americans receive public assistance and nearly two-thirds (59 percent) of retirement-age Americans do not have a retirement account.
Despite the negative numbers, the conclusion is quite interesting: the bottom five percent in the U.S. are richer than 95 percent of those living in India, 85 percent in China and 55 percent in Brazil.